The Romanian Competition Council Releases Its Compliance Guide

In what is a significant step in the promotion of competition law compliance, the Romanian Competition Council ("RCC") released its Compliance Guide ("CG") aimed at assisting all types of companies, irrespective of their size, in the implementation of a tailored and effective compliance program.

SUBSTANCE OVER FORM

The RCC uses the CG to signal a departure from a formalistic approach towards a substance based approach insofar as compliance programs are concerned. To date, competition compliance programs have typically been the focus of larger international companies; however, they are now expressly identified within the CG as essential for all companies, irrespective of their size or activity sector.